Obama To Announce 3-Year Discretionary Spending Freeze
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President Obama will announce plans to freeze all non-security federal discretionary spending for three years, according to reports from CNN citing two senior administration officials.
Obama will announce the plan in the State of the Union address on Wednesday. The measures could save $250 billion.
It is unclear what government programs will be cut, but exempt from the cuts would be the budgets of the Departments of Defense, Homeland Security, and Veterans Affairs, along with some international programs.
If the reports are accurate this would be Obama's most fiscally responsible measure yet and would likely be a positive for the U.S. dollar.
Related ETFs:
PowerShares DB US Dollar Index Bullish (NYSE: UUP)
PowerShares DB US Dollar Index Bearish (NYSE: UDN)
SPDR Gold Shares (NYSE: GLD)
Obama will announce the plan in the State of the Union address on Wednesday. The measures could save $250 billion.
It is unclear what government programs will be cut, but exempt from the cuts would be the budgets of the Departments of Defense, Homeland Security, and Veterans Affairs, along with some international programs.
If the reports are accurate this would be Obama's most fiscally responsible measure yet and would likely be a positive for the U.S. dollar.
Related ETFs:
PowerShares DB US Dollar Index Bullish (NYSE: UUP)
PowerShares DB US Dollar Index Bearish (NYSE: UDN)
SPDR Gold Shares (NYSE: GLD)
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